Press release
Marine Coatings Market to Reach USD 8.52 Bn by 2029, emerging at a CAGR of 6.24 percent and forecast 2023-2029
Marine Coatings Market
The report delves into the global marine coatings market, exploring the challenges faced by marine coating companies due to sluggish demand for new shipbuilding and intensifying competition. It highlights the detrimental impact on the marine new build markets in South Korea and China, which have resulted in negative organic growth in recent years.
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Marine Coatings Market Research Methodology:
A robust research methodology forms the foundation of the report, enabling an in-depth analysis of the drivers and restraints within the marine coatings market. Key attributes such as aesthetics, weather resilience, and corrosion protection are closely examined.
What are Marine Coatings Market Dynamics:
One of the primary factors driving the growth of the worldwide marine coatings market is the expansion of the shipbuilding industry. The shipbuilding industry is a prominent consumer of the global marine coatings market. Growth in the shipbuilding industry was extremely modest until 2010. It has grown dramatically since 2010, owing primarily to increased seaborne trade, FDI flows, and multinational business expansion of operations. The two most important growth drivers for the global marine coatings business are increased ship manufacturing and ship repair and maintenance.
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Marine Coatings Market Regional Insights:
North America: The North American marine coatings market is poised for significant growth during the forecast period. The region's market is characterized by slow but steady growth, driven by the limited scale of the marine industry. Despite its slower pace, the European marine coatings market ranks slightly higher in terms of growth when compared to North America.
Asia-Pacific (APAC): The APAC marine coatings industry continues to dominate the global marine market, with high growth anticipated in the coming years. Remarkably, China leads the APEJ (Asia-Pacific excluding Japan) region and the world in marine coatings consumption. This surge is attributed to the rapid expansion of shipbuilding, maintenance, and dry-docking operations in the region, underscoring its pivotal role in the global marine coatings market.
What is Marine Coatings Market Segmentation:
by Product
Anti-fouling coatings
Anti-corrosion coatings
Foul release coatings
Others
by Application
Coastal
Containers
Deep sea
Leisure boats
Offshore vessels
Others
by End Users
New Ships
Repair Work
by Resin
Epoxy
Alkyd
Polyurethane
Others (Acrylic, Polyester, and Fluoropolymer)
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Who are Marine Coatings Market Key Players:
1. PPG Industries, Inc. (US)
2. Axalta Coating Systems, LLC (US)
3. Cabot Corporation. (US)
4. Carboline Company (US)
5. General Coatings (US)
6. Progress Rail Services Corporation (US)
7. Mascoat (US)
8. The Sherwin-Williams Company (US)
9. Kop Coat (US)
10.RPM International, Inc. (US)
11.Delta T & Protective Products (Canada)
12.BASF SE (Germany)
13.Chemco International Ltd (UK)
14.Jotun (Norway)
15.Boero (Italy)
16.Hempel A/S (Denmark)
17.Akzo Nobel N.V. (Netherlands)
18.EXCEL India Protective Paints Pvt. Ltd (India)
19.Mathur Corr Tech Private Limited (India)
20.Chugoku Marine Paints, Ltd. (Japan)
21.Kansai Paint Co.,Ltd. (Japan)
22.Nippon Paint Holdings Co., Ltd. (Japan)
23.KCC Corporation (South Korea)
24.Sharpshell Engineering (South Africa)
25.Cresta Paints (Africa)
Table of content for the Marine Coatings Market includes:
Marine Coatings Market : Research Methodology
Marine Coatings Market : Executive Summary
Market Overview and Definitions
Introduction to the Global Market
Summary
Key Findings
Recommendations for Investors
Recommendations for Market Leaders
Recommendations for New Market Entry
3. Marine Coatings Market : Competitive Analysis
MMR Competition Matrix
Market Structure by region
Competitive Benchmarking of Key Players
Consolidation in the Market
MandA by region
Key Developments by Companies
Market Drivers
Market Restraints
Market Opportunities
Market Challenges
Market Dynamics
PORTERS Five Forces Analysis
PESTLE
Regulatory Landscape by region
North America
Europe
Asia Pacific
Middle East and Africa
South America
COVID-19 Impact
4.Company Profile: Key players
Company Overview
Financial Overview
Global Presence
Capacity Portfolio
Business Strategy
Recent Developments
Key Offerings:
Past Market Size and Competitive Landscape (2022 to 2029)
Past Pricing and price curve by region (2022 to 2029)
Market Size, Share, Size and Forecast by different segment | 2022-2029
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Market Segmentation - A detailed analysis by growth and trend
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations
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